Sudarshan Colorants India Limited accepted the resignation of Mandar Meenanath Velankar as a Non-Executive and Non-Independent Director effective September 1, 2026. The company disclosed the change under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Velankar tendered his resignation citing personal reasons. He confirmed in his resignation letter that there were no other material reasons for his departure from the board.

Board Composition Change

The cessation of Velankar’s tenure took effect at the close of business hours on Tuesday, September 1, 2026. The company notified both the BSE Limited and the National Stock Exchange of India Limited regarding the regulatory filing.

Key Details

The Company Secretary, Adwait Shrikant Joshi, signed the intimation letter. Velankar thanked the board members for their support during his tenure and wished the company success in future endeavors.

Sudarshan Colorants India Limited shareholders approved all three ordinary resolutions proposed at the company’s 69th Annual General Meeting (AGM) held on August 18, 2026. The meeting, conducted via video conferencing and other audio-visual means, saw high participation from promoter and institutional investors, with all proposals passing with requisite majorities.

The business transacted included routine statutory matters and a special resolution regarding cost audit remuneration. Scrutinizer Rajesh Karunakaran & Co. confirmed that the voting process complied with Section 108 of the Companies Act, 2013 and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resolutions Passed

The following resolutions were put to vote:

1. Adoption of the Audited Financial Statements and the Reports of the Board of Directors and the Auditors thereon.
2. Reappointment of Mr. Mandar Velankar as a Non-Executive and Non-Independent Director, retiring by rotation.
3. Ratification for payment of remuneration to Mrs. Ashwini Kedar Joshi as Cost Auditors for Financial Year 2026-27.

Voting Participation and Results

As on the record date of August 11, 2026, the company had 38,076 shareholders. The total number of shares held was 23,081,798. Voting was conducted primarily through remote e-voting, with no physical poll votes recorded.

Promoter and Promoter Group holdings stood at 16,216,847 shares, representing approximately 70.26% of the total equity. The promoter group voted unanimously in favour of all three resolutions.

Institutional and Public Voting Patterns

Institutional investors held 152,377 shares, while non-institutional public shareholders held 6,712,574 shares. While institutional participation was high, with over 78% of institutional shares polled for the financial statements, non-institutional participation remained low, with less than 0.25% of public shares polled.

The reappointment of Mr. Mandar Velankar faced some dissent from institutional investors, with 27,645 votes cast against the resolution by this group, representing 22.23% of the votes polled by institutions. However, strong support from promoters and non-institutional shareholders ensured the resolution passed with nearly 99.82% affirmative votes overall.

What the Numbers Show

The voting data highlights a distinct divergence in shareholder sentiment regarding board composition versus financial oversight. While the adoption of financial statements received near-unanimous support across all categories (including 100% from institutions), the reappointment of the rotating director saw significant opposition from institutional holders. This suggests that while institutional investors endorse the company’s financial reporting, they may have specific governance concerns or preferences regarding individual board members, despite the resolution ultimately passing due to promoter dominance.